https://www.taxtmi.com/caselaws?id=105230 When a sick industrial company's revival was already before the BIFR under the SICA, the writ court should not impose an ad hoc arrangement for running the undertaking. The High Court noted that rehabilitation and viability assessment were within the statutory remit of the expert forum, which was meant to consider competing proposals from all interested parties. It held that operational directions appointing a Special Officer, taking possession, preparing an inventory, and managing the mill through a committee could not displace that statutory process. The impugned directions were set aside, and the parties were left to pursue their rehabilitation proposals before the BIFR. en-us Tue, 27 Jul 1999 00:00:00 +0530 Sat, 03 Mar 2012 11:45:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105230 When a sick industrial company's revival was already before the BIFR under the SICA, the writ court should not impose an ad hoc arrangement for running the undertaking. The High Court noted that rehabilitation and viability assessment were within the statutory remit of the expert forum, which was meant to consider competing proposals from all interested parties. It held that operational directions appointing a Special Officer, taking possession, preparing an inventory, and managing the mill through a committee could not displace that statutory process. The impugned directions were set aside, and the parties were left to pursue their rehabilitation proposals before the BIFR. Case-Laws Companies Law Tue, 27 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105230